Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 52-Week High – What’s Next?

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Tuesday . The company traded as high as $21.43 and last traded at $21.42, with a volume of 63799 shares. The stock had previously closed at $21.30.

Sprott Physical Gold Trust Stock Up 0.8 %

The business has a 50 day moving average of $20.23 and a 200 day moving average of $19.03.

Hedge Funds Weigh In On Sprott Physical Gold Trust

A number of institutional investors have recently added to or reduced their stakes in PHYS. International Assets Investment Management LLC raised its holdings in Sprott Physical Gold Trust by 2,471.9% in the third quarter. International Assets Investment Management LLC now owns 2,859,518 shares of the exchange traded fund’s stock worth $58,277,000 after purchasing an additional 2,748,335 shares in the last quarter. Bluefin Capital Management LLC increased its holdings in shares of Sprott Physical Gold Trust by 478.6% during the first quarter. Bluefin Capital Management LLC now owns 2,023,920 shares of the exchange traded fund’s stock valued at $35,014,000 after acquiring an additional 1,674,108 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Sprott Physical Gold Trust by 791.8% during the first quarter. Cetera Investment Advisers now owns 1,091,188 shares of the exchange traded fund’s stock valued at $18,878,000 after acquiring an additional 968,835 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Sprott Physical Gold Trust by 73.3% during the third quarter. Raymond James & Associates now owns 1,602,282 shares of the exchange traded fund’s stock valued at $32,655,000 after acquiring an additional 677,623 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Sprott Physical Gold Trust during the second quarter valued at $9,884,000.

Sprott Physical Gold Trust Company Profile

Sprott Physical Gold Trust operates as a closed-end investment trust, which engages in investing and holding all of its assets in physical gold bullion. Its investment objective is to provide a secure, convenient, and exchange-traded investment alternative for investors through investing primarily in long-term holdings of unencumbered, fully allocated, physical gold bullion and will not speculate with regard to short-term changes in gold prices.